Some terms that you might come across
IBAN is an acronym for International Bank Account Number. Each Dutch bank account and financial institution has a unique IBAN number which allows it to be recognizable worldwide. This number makes international and local transactions easier and reduces the risk of error.
SEPA stands for Single Euro Payments Area. SEPA is a way to harmonize money transfers across the eurozone making it easier, seamless, and often free of charge. In other words, transferring money between different countries in Europe will be the same as making a local bank transfer.
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It is similar to SEPA except it operates on a worldwide basis. It supports transfers in different currencies across the globe.
Internet banking is very popular in the Netherlands. The majority of people now manage their finances online. Traditional and modern banks alike offer internet banking due to its popularity among their clients. Nearly all of the transactions that you may carry out in person are available through simple, secure internet banking in the Netherlands.
With some banks, you will need to obtain an identifier to log in to your Internet banking. A card reader called the identifier will enable you to log in securely and perform any transactions you need to. Keep in mind that each Dutch bank has a separate card reader and for some of them, you will not need it at all. Take this information into account when you are choosing your bank.
Customers can pay online through their bank using the iDEAL online payment method. With iDeal, you can make online purchases without using a credit card. You can purchase items using your debit card instead by paying with your e.dentifier and pin code.